MobilePlanet Acquired by eXpansys Group for $3.75 Million in Cash Transaction
The U.K. based eXpansys Group today announced that they have acquired MobilePlanet Inc. MobilePlanet will continue operations under its own brand name and as a separate company taking advantage of Expansys' warehousing, logistics and software development facilities. The company plans to maintain all existing customer, supplier and partner relationships and will actively seek new partners of all kinds for the combined business over the coming months.
Chatsworth, CA (PRWEB) April 29, 2005 -- The U.K. based eXpansys Group today
announced that they have acquired MobilePlanet Inc., the leading U.S.
multi-channel reseller of mobile computing and wireless products. MobilePlanet
posted revenues of USD $21 million in 2004.
The Acquisition will help to
secure the group's position as the premier specialist online retailer of mobile
devices in the world with a forecast turnover of $200 million for the next
financial year.
MobilePlanet will continue operations under its own
brand name and as a separate company taking advantage of Expansys' warehousing,
logistics and software development facilities. The company plans to maintain all
existing customer, supplier and partner relationships and will actively seek new
partners of all kinds for the combined business over the coming
months.
Roger Butterworth, CEO of eXpansys Group said: "We are delighted
to be completing this deal to bring together the two largest players in the
online market for mobile devices in the USA, we are looking forward to bringing
the best of MobilePlanet and eXpansys to all of our customers
worldwide."
eXpansys Holdings Ltd., a company based in Manchester,
England is the leading worldwide specialist distributor of mobile technology
which owns eXpansys and Portable Add-Ons. With operations in the U.K., U.S.,
Europe and Asia, the companies serve customers in over 140 different countries.
By expanding its position in the U.S. market, this acquisition is a major step
in the international development of the business.
The U.K. group plans
to use the MobilePlanet brand name in the U.S. and other key markets. To
accommodate this, the group holding company, eXpansys Holdings Ltd. will be
re-named Mobile and Wireless Group Ltd (M&WG). eXpansys and MobilePlanet
will continue to trade separately.
Media Contact:
Roger
Butterworth
+44 7973 629916
www.mobileplanet.com or www.expansys.com
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Source : http://www.prweb.com/releases/2005/4/prweb234778.htm